- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
1. This Order may be cited as the Social Security Revaluation of Earnings Factors Order (Northern Ireland) 2023 and shall come into operation on 6th April 2023.
2. Earnings factors(1) for the tax years specified in the Schedule to this Order in so far as they are relevant—
(a)to the calculation of—
(i)the additional pension in the rate of any long-term benefit, or
(ii)any guaranteed minimum pension(2), or
(b)to any other calculation required under Part III of the Pension Schemes (Northern Ireland) Act 1993(3) (including that Part as modified by or under any other enactment),
are directed to be increased by the percentage of their amount shown opposite those tax years in that Schedule.
3. Where any earnings factor relevant to the calculation specified in Article 2(a)(i), as increased in accordance with this Order, would not but for this Article be expressed as a whole number of pounds, it shall be so expressed by rounding down any fraction of a pound less than one half and rounding up any other fraction of a pound.
Sealed with the Official Seal of the Department for Communities on 14th March 2023
(L.S.)
Anne McCleary
A senior officer of the Department for Communities
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: